June 7, 1939 ue. J. EB. Russell, Browning St. VIA REGISTERED MALL Vice-rresident, aras Company, Lowis, Missouri. Re: “Special bear Suspense Account*. letter dated May 31, has been handed to us, after John: Your Barriner Browning him, repiy. for question of longhand The legal aspects proper accounting, 1939 to a. discussion with of this situation, aieo the have been discussed with &. Thatcher. We are of the opinion that the cheeks, as weli as future payments upon this account, should be handied books of the Browning Arms Company. Our conclusions upon the follewing reagons: through the are based The Browning Arms Company ae agent for iie principal, the J. @. & 4. &. Browning Company, g@@lig guns upon consign~ ment and ig responsible for either the gune or the money covering all merehandise seld upon consignment. in this particular cass the gume were sold and delivery was aude to custasers, the proceeds of the gales were not, however, accounted for to the parent. it is ow understanding that at the end of each year a physical inventery is taken by the Browning arwe Company and any differences which develop between the beok lnventery and the actual physical inventory are accounted for to the parent. Therefore, the parent hae already been paid for the gune and the amount to be recovered will be income solely to the accounted for 46 the parent. The initial Browning paywent A4rme Company in the amount and need of $951.65 not be (checks in thie amount being returned herewith) may be deposited in the bank account by M@. Hillis with an explanation which wlll be understood by Mr. Benner, as auditer. Monthly paymente will no doubt be made in eash and eredited This method of handling raised in your lenghand to the ie offered ietter. “Special Suspense as & seliution With kind regarde, Very truly yours, ;oe . a 2 2o SS an Py cc & & ¢ ir. fe. iy. H. A. Browning Hoy Bb. Thatcher A. J. Benner Ene losures to Account”. the question